WALES’ marketing industry is set for a major overhaul after the launch of an initiative to boost support to marketers in the region.

The Chartered Institute of Marketing has created an all-Wales division to support the estimated 150,000 people now working in marketing in Wales.

The institute currently has 1,000 Welsh members, and the aim is to increase that figure significantly, and help develop the marketing industry in Wales.

Previously, North Wales was part of the institute’s Merseyside branch.

Members of the new Wales board will include Coleg Menai director of student support, Carl Mather, as North Wales branch chairman.

The need for a more cohesive approach in Wales is indicated by the institute’s latest survey which reveals marketing is rated a high priority in 63% of Welsh companies compared with a UK average of 54%.

But on the downside, marketing professionals in Wales are among the least optimistic about sales performance over the coming year, and the gloomiest about the economy

And even though companies in Wales recognise its importance, they are investing below the UK average on marketing. Welsh businesses are planning to increase their marketing budget by 6.3% in 2007, against an increase of 8% in the south of England.

Richard Houdmont, the institute’s Wales director, said: “If Wales wishes to achieve greater economic prosperity than other parts of the country, it is important that marketing is taken seriously and supported with investment.”